Litecoin LTC/USD are trading at 94.05 and continue to move as part of the growth and formation of the «Triangle» model, which indicates the presence of uncertainty. Cryptocurrency capitalization at the time of the publication of the forecast is $5 988 864 040. Moving averages indicate the presence of a short-term downward trend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 88.00. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 125.00.
Litecoin Forecast and LTCUSD Analysis August 7, 2019
In favor of the growth of LTC/USD quotes, a test of the rising support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the growth option will be the fall and the breakdown of the area of 75.00. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below 60.00. With the breakdown of the resistance area and closing of quotes above the level of 105.00, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTCUSD Analysis August 7, 2019 implies an attempt to test the support area near the level of 88.00. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 125.00. An additional signal in favor of Litecoin growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the ascent option will be a fall and a breakdown of the area of 75.00. This will indicate a continued decline in cryptocurrency with a target below 60.00.
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